When it comes to managing your wealth, Fresno natives have a variety of options.  Depending on your lifestyle, amount of wealth and acceptance of risk, you can choose from a variety of Fresno investment mortgage choices.  When it comes to getting an approved investment mortgage, think of it just as you would a traditional mortgage with additional hoops to jump through and a higher interest rate.

Many times the criteria are the same as if you were trying to get a mortgage in Fresno.  Investment mortgages have the same fees but additional stipulations.  In addition to proving to the investment mortage officer that you can afford the payment on the house you’re buying, they might also want to look at comparable homes in the area to see what they are renting for.  If your investment mortgage payment is a lot higher than Fresno rentals in a similar area, you’ll need to prove that you can cover the difference in payment.

Many of these stipulations are not relevant if you’re putting a lot of money down, or if your income minus debt payments exceeds the payment.  Basically, if you have a lot of disposable income and have money to put down as a down payment for your investment home, you shouldn’t have any trouble.

If you lack a sizable down payment and you’re income is already stretched, you’re going to have a very hard time getting an investment mortgage in Fresno!

Related Posts